EUR/USD is recovering after the decline caused by weak data on the consumer price index in Germany. During the Asian session, the rate rose to the level of 1.1688. On Friday, investors are waiting for the data on the unemployment rate and the consumer price index in the Eurozone (11:00 GMT+2). According to the forecast, the unemployment rate may fall to 8.2% in July from 8.3% in the previous month. The consumer price index in August is expected to remain unchanged at 2.1% YoY.


GBP/USD shows a moderate positive trend and climbed to the level of 1.3023 during the Asian session. In view of the absence of macroeconomic releases from the UK and the US, investors will focus on Brexit. Today, the meeting of the UK and EU representatives, Dominique Raab and Michel Barnier, is expected, but both officials do not expect a positive outcome of the talks.


The Japanese currency is strengthening against the US dollar. Published today, mixed statistics from Japan did not have a significant impact on the rate. According to published data, the consumer price index in the Tokyo region rose to 1.2% in August YoY from 0.9% a month earlier. The unemployment rate was worse than expected and rose to 2.5% in July from 2.4% a month earlier. Industrial production YoY rose to 2.3% in July from -0.9% a month earlier. MoM the indicator was worse than forecasted and fell to -0.1% in July, instead of the expected growth of 0.2%. Amid this, quotes continued a moderate decline and are now testing the support level of 110.93.


In the absence of significant economic releases from Australia, AUD/USD show a downward trend. At present, the exchange rate has corrected to the level of 0.7254, however, the downward trend is still kept.


Quotes of gold rose to around 1205.08 during the Asian session amid a general weakening of the US currency.

Morning Market Review

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